Dishonored Payments. If any check or ACH payment of BUYER/MAKER is dishonored for any reason, NCCI will notify both parties of the dishonor. Upon receipt of such notice, SELLER/HOLDER shall, within 48 hours, reimburse NCCI for any and all funds disbursed to SELLER/HOLDER in connection with the dishonored payment, and BUYER/MAKER shall immediately remit a replacement payment to NCCI, plus the NSF fee reflected on the NCCI fee schedule then in effect. The NSF fee shall be deducted from the next payment received by NCCI from BUYER/MAKER, before the application of the balance of said payment to other sums due from BUYER/MAKER.
Appears in 13 contracts
Samples: Northwest Contract Collections, Northwest Contract Collections, Northwest Contract Collections
